Oracle, Sears, Roebuck & Co and French retailer Carrefour yesterday announced the formation of a business-to-business online purchasing exchange that they say will be the largest of its kind in the retail industry.
Called the GlobalNetXchange, the online marketplace will initially serve Sears' and Carrefour's $US80 billion supply-chain purchases from 50,000 suppliers, partners and distributors, the companies said in a statement.
Other retailers will be invited to join the online marketplace, which is based on Oracle Exchange, the company's ebusiness marketplace platform.
The new exchange, deploying standard web browsers, will allow members to buy, sell, trade or auction goods and services over the internet, the companies said. GlobalNetXchange will start operations within 30 days, with its own management, employees and capitalisation.
Both Sears and Carrefour are already utilising sophisticated purchasing techniques and are positioned to take advantage of the features of the exchange, said Larry Ellison, Oracle's CEO.
Sears and Carrefour will share a majority interest in GlobalNetXchange, while Oracle will hold a minority interest and provide software, implementation and support.
The exchange will provide supply-chain management features that include collaborative demand and capacity planning, order-promising, transportation scheduling, global inventory and eventually the full automation of the purchase process.
GlobalNetXchange will support a variety of retail merchandising, including apparel, soft goods, hard goods, food and other consumer products.
Oracle launched its online marketplace platform in July last year. The company announced a large-scale collaboration in November with Ford Motor, called AutoXchange.
AutoXchange has sold more than $US300 million worth of goods thus far, Mary Lou Smulders, vice president of Oracle product industries, said yesterday in a telephone interview. More announcements are expected this year, she said.